医疗行业7企业并购与重组(ppt 23页)

医疗行业7企业并购与重组目录：
一、Mergers and Acquisitions
二、Reasons for Making Acquisitions
三、Problems With Acquisitions
四、Attributes of Effective Acquisitions
五、Restructuring Activities
六、Restructuring and Outcomes

 

医疗行业7企业并购与重组内容提要：
Mergers and Acquisitions
Merger: a strategy through which two firms agree to integrate their operations on a relatively co-equal basis
Acquisition: a strategy through which one firm buys a controlling interest in another firm with the intent of making the acquired firm a subsidiary business within its own portfolio
Takeover: a special type of an acquisition strategy wherein the target firm did not solicit the acquiring firm’s bid
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Reasons for Making Acquisitions:
Barriers to entry include
economies of scale in established competitors
differentiated products by competitors
enduring relationships with customers that create product loyalties with competitors
acquisition of an established company
may be more effective than entering the market as a competitor offering an unfamiliar good or service that is unfamiliar to current buyers
provides a new entrant with immediate market access
……

Problems With Acquisitions
Managers in target firms may operate in a state of virtual suspended animation during an acquisition
Executives may become hesitant to make decisions with long-term consequences until negotiations have been completed
Acquisition process can create a short-term perspective and a greater aversion to risk among top-level executives in a target firm.

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